MFS Charter Income Trust (NYSE:MCR) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

MFS Charter Income Trust (NYSE:MCR) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.11 and traded as low as $5.92. MFS Charter Income Trust shares last traded at $5.9390, with a volume of 75,078 shares traded.

MFS Charter Income Trust Price Performance

The stock has a 50 day simple moving average of $5.97 and a two-hundred day simple moving average of $6.11.

MFS Charter Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.0437 per share. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Monday, June 8th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sit Investment Associates Inc. lifted its holdings in MFS Charter Income Trust by 16.2% during the 4th quarter. Sit Investment Associates Inc. now owns 3,993,082 shares of the financial services provider’s stock valued at $25,037,000 after purchasing an additional 557,205 shares during the last quarter. Rivernorth Capital Management LLC bought a new stake in shares of MFS Charter Income Trust during the 1st quarter worth about $1,873,000. Riverbridge Partners LLC raised its holdings in MFS Charter Income Trust by 89.9% in the 4th quarter. Riverbridge Partners LLC now owns 193,336 shares of the financial services provider’s stock valued at $1,212,000 after acquiring an additional 91,541 shares during the period. Allspring Global Investments Holdings LLC lifted its position in MFS Charter Income Trust by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,362,242 shares of the financial services provider’s stock worth $8,255,000 after acquiring an additional 87,191 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of MFS Charter Income Trust by 49.4% in the fourth quarter. Wells Fargo & Company MN now owns 210,837 shares of the financial services provider’s stock valued at $1,322,000 after purchasing an additional 69,758 shares during the last quarter.

MFS Charter Income Trust Company Profile

MFS Charter Income Trust (NYSE: MCR) is a diversified, closed-end management investment company organized in 1987. As part of the MFS Investment Management family, the Trust seeks to provide its shareholders with high current income and preservation of capital. The fund’s shares trade on the New York Stock Exchange, offering investors access to a managed portfolio of income-oriented securities within a single, publicly listed vehicle.

The fund primarily invests in a broad mix of preferred stocks, convertible securities and high-yield corporate bonds.